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Further guidance on the Job Retention Bonus Scheme

05 Oct 2020

Further guidance has now been released in relation to the Job Retention Bonus Scheme.

In summary:

  • the bonus is to be a taxable payment of £1,000 payable to the employer for each eligible employee.
  • it is payable in respect of each employee who has been on furlough and remains continuously employed, and not under notice, until 31 January 2021.
  • the employer must have paid at least £1,560 (gross) to the employee between 6 November 2020 and 5 February 2021 (and a payment must be made in each of the relevant tax periods i.e. 6 November to 5 December 2020; 6 December 2020 to 5 January 2021 and 6 January to 5 February 2021)
  • a claim for the bonus needs to be submitted between 15 February and 31 March 2021.  No claims will be accepted after 31 March.

Employers should ensure that they continue to keep their records up-to-date and that they correctly report their employees’ details through RTI as failure to do so may jeopardise a claim.

How we can help
The team are very busy advising in respect of  the Job Support Scheme, furlough leave, flexible furlough, redundancies and changing terms and conditions of employment. Please give us a call if we can help your business at this difficult time.